Debt consolidation reduction (Scotland). I am able to manage my latest repayments

This particular fact sheet coversР’ Scotland. Р’ We also provide a version forР’ England & WalesР’ if it is needed by you.

This fact sheet describes about debt consolidation reduction, as well as the differing types of credit that could be open to you. It helps you select should you borrow more income and let you know where you could obtain the guidance you may need.

Make use of this known fact sheet to:

know very well what you really need to consider before borrowing funds;

exercise if you should think about consolidating the money you owe;

See what different types of credit may be accessible to you; and

get the right type of financial obligation solution for you personally.

Taking out fully additional credit is normally maybe maybe not just an option that is good you will be struggling to pay for crucial bills, or seem to be lost re payments in your debts. Debt consolidating loans can appear to be a close solution, but can often simply lead you further into financial obligation.

You will find other ways of borrowing. Based on your position, some can be much better than the others. This particular fact sheet will explain in regards to the differences when considering the many types of credit that exist.

Budget before you decide to borrow

Before making a decision to get credit, or combine the money you owe, you need to conclude your allowance.

You’ll want to exercise exactly just just how money that is much have remaining right after paying their day-to-day expenses of residing, to read:

whether you’ll manage the re re payments on the existing debts; and

just how much you are able to manage to cover towards any credit that is new sign up for.

Make fully sure your spending plan try accurate. Invest the away credit but cannot spend the money for re payments, it is possible to wind up needing to spend a lot back a lot more than your initially lent. If you should be maybe not certain that their numbers is realistic, e mail us for pointers. […]